Coinbase Global, Inc. (NASDAQ:COIN) Shares Bought by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp raised its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 203.8% during the 2nd quarter, Holdings Channel reports. The firm owned 74,717 shares of the cryptocurrency exchange’s stock after buying an additional 50,121 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Coinbase Global were worth $3,514,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in Coinbase Global in the second quarter valued at approximately $326,251,000. Nikko Asset Management Americas Inc. grew its holdings in Coinbase Global by 34.7% in the second quarter. Nikko Asset Management Americas Inc. now owns 6,606,262 shares of the cryptocurrency exchange’s stock valued at $312,366,000 after purchasing an additional 1,701,828 shares during the period. Vanguard Group Inc. grew its holdings in Coinbase Global by 4.5% in the first quarter. Vanguard Group Inc. now owns 6,025,188 shares of the cryptocurrency exchange’s stock valued at $1,143,942,000 after purchasing an additional 260,538 shares during the period. Banco Bilbao Vizcaya Argentaria S.A. boosted its stake in shares of Coinbase Global by 13.2% in the second quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 605,251 shares of the cryptocurrency exchange’s stock worth $28,524,000 after acquiring an additional 70,792 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of Coinbase Global by 19.7% in the first quarter. State Street Corp now owns 553,861 shares of the cryptocurrency exchange’s stock worth $105,156,000 after acquiring an additional 90,991 shares during the last quarter. 49.31% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. DA Davidson lowered their price target on Coinbase Global from $100.00 to $70.00 and set a “buy” rating on the stock in a research note on Wednesday. Citigroup lowered their price target on Coinbase Global from $105.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, November 10th. Piper Sandler lowered their price target on Coinbase Global from $120.00 to $115.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 10th. BTIG Research reduced their price objective on Coinbase Global from $220.00 to $110.00 in a research report on Friday, November 4th. Finally, Compass Point reduced their price objective on Coinbase Global from $95.00 to $75.00 in a research report on Wednesday, October 26th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $90.70.

Insider Buying and Selling

In related news, Director Tobias Lutke bought 4,482 shares of the stock in a transaction that occurred on Tuesday, September 13th. The stock was purchased at an average cost of $75.39 per share, with a total value of $337,897.98. Following the purchase, the director now directly owns 54,583 shares of the company’s stock, valued at approximately $4,115,012.37. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Coinbase Global news, Director Tobias Lutke acquired 4,482 shares of the stock in a transaction dated Tuesday, September 13th. The stock was acquired at an average cost of $75.39 per share, with a total value of $337,897.98. Following the transaction, the director now owns 54,583 shares in the company, valued at approximately $4,115,012.37. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Brian Armstrong sold 29,732 shares of the company’s stock in a transaction dated Friday, November 11th. The stock was sold at an average price of $54.66, for a total value of $1,625,151.12. The disclosure for this sale can be found here. Insiders purchased 73,445 shares of company stock valued at $4,848,889 in the last three months. 36.10% of the stock is owned by corporate insiders.

Coinbase Global Trading Down 7.2 %

Shares of NASDAQ COIN opened at $45.26 on Friday. Coinbase Global, Inc. has a twelve month low of $40.83 and a twelve month high of $339.41. The stock has a market capitalization of $10.27 billion, a PE ratio of -7.46 and a beta of 2.50. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.60. The stock has a fifty day simple moving average of $64.77 and a 200-day simple moving average of $67.38.

Coinbase Global Profile

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Coinbase Global, Inc provides financial infrastructure and technology for the cryptoeconomy in the United States and internationally. The company offers the primary financial account in the cryptoeconomy for retailers; a marketplace with a pool of liquidity for transacting in crypto assets for institutions; and technology and services that enable ecosystem partners to build crypto-based applications and securely accept crypto assets as payment.

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Institutional Ownership by Quarter for Coinbase Global (NASDAQ:COIN)

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